Why I chose a 456 GTA as my first Ferrari...
Discussion
I guess there are a number of people on here who read the forums but do not yet own a Ferrari etc but aspire to one. I am awaiting delivery of my first so thought it might be useful to share my thoughts.
I have wanted a Ferrari since the year dot. I got a myself a 911 997 C2 3 years ago and ran it for 2 years. I started a new business though so it had to go for something more economical - an E320 CDI with all the toys on an 03 plate. I love it for a luxury car but it is not the most riveting of drives.. I started to pang after something more fun again. I looked at 911's as you buy those with your brains and not your heart like you buy a Ferrari.
I am an ordinary guy with his own small business. I do not earn lots of money but enough to buy a Ferrari and maintain it properly. I was torn between a V8 or V12. I want to experience ownership and driving of both. I ummed and arred and then saw a 1997 456 GTA in Grigio Titanio at the Ferrari Centre for £28k. That is pretty much as cheap as Ferrari's come apart from Mondials. I went and had a look as they are 3 miles from me. I fell in love.
I reasoned (rightly or wrongly) with myself that at some point the value of these might go up but they almost certainly cannot move downwards very much more. Similar ones are on the market for £34k so it seemed like a really good buy. Add in the fact that it is having a major service, cambelts, 4 brand new tyres, all niggles fixed and body work all detailed before delivery and with a 1 year warranty inc gear box and it seemed to me like a steal. It was owned by a finance company who had repossessed it, so I think they just wanted to sell. I was a cash buyer so all the better.
I think that for an introduction to the Marquee it will be a great car. Affordable to buy and should be pretty much maintenance free for a year at least. If I do get any horrors then it will only be the same amount as if I would have lost in depreciation of a 997 over a year or so anyway. So to me a no brainer.
The only downside to me is that it is a Auto. But I can live with that. My business is solid and growing and I hope that next year I can trade it in for a 550 or a V8 of some variant. Or, keep it and have both
It would have been ready next weekend but Easter Friday has pretty much prevented that! It is killing me waiting for it!
Do any of you have experience of the 456 GTA? Do you know how many where imported into the UK? I have heard that fitting a normal Tubi exhaust greatly enhances the sound but still in keeping with the gentlemanly feel of the car. I will post some photos as soon as I get it.
I have booked to come on the Cliveden meet so look forward to seeing some of you there!
Edited to say that I bought a 3 bed detached house in Kent on a desirable estate with excellent schools in 1997 (same year the car was new) for about £50k less than the car cost. The Ferrari has lost £140K and the house has gained about £150k even in this depressed market! I like those stats!
I have wanted a Ferrari since the year dot. I got a myself a 911 997 C2 3 years ago and ran it for 2 years. I started a new business though so it had to go for something more economical - an E320 CDI with all the toys on an 03 plate. I love it for a luxury car but it is not the most riveting of drives.. I started to pang after something more fun again. I looked at 911's as you buy those with your brains and not your heart like you buy a Ferrari.
I am an ordinary guy with his own small business. I do not earn lots of money but enough to buy a Ferrari and maintain it properly. I was torn between a V8 or V12. I want to experience ownership and driving of both. I ummed and arred and then saw a 1997 456 GTA in Grigio Titanio at the Ferrari Centre for £28k. That is pretty much as cheap as Ferrari's come apart from Mondials. I went and had a look as they are 3 miles from me. I fell in love.
I reasoned (rightly or wrongly) with myself that at some point the value of these might go up but they almost certainly cannot move downwards very much more. Similar ones are on the market for £34k so it seemed like a really good buy. Add in the fact that it is having a major service, cambelts, 4 brand new tyres, all niggles fixed and body work all detailed before delivery and with a 1 year warranty inc gear box and it seemed to me like a steal. It was owned by a finance company who had repossessed it, so I think they just wanted to sell. I was a cash buyer so all the better.
I think that for an introduction to the Marquee it will be a great car. Affordable to buy and should be pretty much maintenance free for a year at least. If I do get any horrors then it will only be the same amount as if I would have lost in depreciation of a 997 over a year or so anyway. So to me a no brainer.
The only downside to me is that it is a Auto. But I can live with that. My business is solid and growing and I hope that next year I can trade it in for a 550 or a V8 of some variant. Or, keep it and have both
It would have been ready next weekend but Easter Friday has pretty much prevented that! It is killing me waiting for it!
Do any of you have experience of the 456 GTA? Do you know how many where imported into the UK? I have heard that fitting a normal Tubi exhaust greatly enhances the sound but still in keeping with the gentlemanly feel of the car. I will post some photos as soon as I get it.
I have booked to come on the Cliveden meet so look forward to seeing some of you there!
Edited to say that I bought a 3 bed detached house in Kent on a desirable estate with excellent schools in 1997 (same year the car was new) for about £50k less than the car cost. The Ferrari has lost £140K and the house has gained about £150k even in this depressed market! I like those stats!
Edited by wineman02 on Saturday 16th April 11:22
I should also say that dealing with the Ferrari Centre has been a total joy. Quite refreshing to actually buy a car from somewhere that treats it like a special purchase and not a bag of sugar. Before signing on the dotted line I was shown all around the huge workshop and introduced to the chief mechanic. On the walls of the office is a photo of everyone who has bought a new car with their new car. There is a board for every year. I really like that and it shows to me that they give a damn.
Living so close I have been to the dealership many times and looked in at the cars. They have really grown in size in the 15 years or so since I must have first visited and that gave me a lot of confidence as it is a big purchase for me.
Living so close I have been to the dealership many times and looked in at the cars. They have really grown in size in the 15 years or so since I must have first visited and that gave me a lot of confidence as it is a big purchase for me.
Congrats on the purchase I was looking at 456s as well when I was buying a little over a year ago. I keep half toying with thought of going for a 550 too, but I'm not even close to bored with the 355 yet 
Get yourself over to Club Scuderia for lots of Fcar specific info
I was looking at 456s as well when I was buying a little over a year ago. I keep half toying with thought of going for a 550 too, but I'm not even close to bored with the 355 yet Get yourself over to Club Scuderia for lots of Fcar specific info
I do like 456s a lot, but to me they are just not 'special' enough to own one as my only toy. I run a winter car and a summer one and need 4 seats in both. The 456 fits that brief, being interesting enough to drive, yet offering practicality. I may end up buying one next year, especially as I believe high fuel prices will continue to damage their values...
But for £28k, it'd be one of the 355s available or a Testarossa for a little more if I only had the money for one special toy that I wanted to always send that frisson of excitement up my spine when I threw back the doors of the garage...
But for £28k, it'd be one of the 355s available or a Testarossa for a little more if I only had the money for one special toy that I wanted to always send that frisson of excitement up my spine when I threw back the doors of the garage...
355's and a TR where high on the list of options. The only problem being that they are £38-£45k for a nice one at least. I did not want to take a loan out. The cheapest Ferrari is the most expensive as they say (apart from mine of course )
I am not sure fuel is a factor that much. If you can afford a Ferrari and the maintenance then you can manage the fuel bills for 3-5K miles a year.
)I am not sure fuel is a factor that much. If you can afford a Ferrari and the maintenance then you can manage the fuel bills for 3-5K miles a year.
wineman02 said:
It is also about balance. I "could" put the extra £10k towards a 355 but then I could not invest that in my business. I publish books and I can turn that £10k into £50k over the course of a year which will enable me to buy that 355 or a TR! There is a master plan at work here
You really don't have pay £38k for a decent 355. There are several very nice cars around at the £30k mark. However, your master plan makes a lot of sense :-)
wineman02 said:
I should also say that dealing with the Ferrari Centre has been a total joy. Quite refreshing to actually buy a car from somewhere that treats it like a special purchase and not a bag of sugar. Before signing on the dotted line I was shown all around the huge workshop and introduced to the chief mechanic. On the walls of the office is a photo of everyone who has bought a new car with their new car. There is a board for every year. I really like that and it shows to me that they give a damn.
Living so close I have been to the dealership many times and looked in at the cars. They have really grown in size in the 15 years or so since I must have first visited and that gave me a lot of confidence as it is a big purchase for me.
I recently bought a car from The Ferrari Centre, and found the whole experience superb. I had to go back for a minor warranty issue after a couple of months and it was sorted out with no drama whatsoever. If only all car retailers worked with such good principles.Living so close I have been to the dealership many times and looked in at the cars. They have really grown in size in the 15 years or so since I must have first visited and that gave me a lot of confidence as it is a big purchase for me.
Congratulations for the choice and welcome to the club. I bought mine almost 2 years ago and I can say that the thought process was similar to yours. I believe that for the money the quality of the car is much better for a 456 than the 355. These cars are indeed very special, and bound to be rarer with time as the production averaged c. 300 pieces/year in total, something I think later models might miss. It is way more practical too.
Having said that, these are 15 year old Italian cars and you can only hope that you can avoid occasional big bills.
I think that the analogy 997 servicing + depreciation = 456 servicing + depreciation is only right if you assume that the 456 depreciation is zero and that will depend on your “investment horizon”. In other words, I wouldn’t get into this trade if it wasn’t for a “long term relationship”.
Take care of it, have fun, drive it frequently and prepare to be patient too!
Having said that, these are 15 year old Italian cars and you can only hope that you can avoid occasional big bills.
I think that the analogy 997 servicing + depreciation = 456 servicing + depreciation is only right if you assume that the 456 depreciation is zero and that will depend on your “investment horizon”. In other words, I wouldn’t get into this trade if it wasn’t for a “long term relationship”.
Take care of it, have fun, drive it frequently and prepare to be patient too!
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